The VantageScore model, with scores ranging from 300 to 850, was developed jointly by the three major national credit reporting agencies - Experian ®, TransUnion ®, and Equifax ®. *2020 Identity Fraud Study, Javelin Strategy & ResearchġYour VantageScore credit score(s) are provided by VantageScore Solutions LLC. To monitor and manage your credit score, enroll in PrivacyGuard today. With hard work and determination, you can watch your credit score rise. Most negative notations on your credit report will cease appearing in your credit history after seven years (although some may take longer). However, bad credit does not have to follow you around for the rest of your life. Job loss, a bad economy or simply the mismanagement of credit can put you in a situation where you have bad credit. Good credit score: 680 to 699 (Average American score is 682)Īlthough there is some distinction between a low credit score and a bad credit score, it is important to note that many lenders consider consumers with scores under 620 as credit risks.īad credit doesn't have to follow you forever.Excellent/very good credit score: 700 to 850.However, there have been several general score range breakdowns to give you an idea if you have good or bad credit.Īlthough variations exist, here is a general credit score breakdown: The higher the number the better your credit score.Įach lender determines what it considers a good or bad credit score. If you are offered credit with a bad credit score, you will most likely pay more in fees and charges because you may qualify only for a higher interest rate.Ĭredit scores can range from 300 to 850 points depending on the score system.
However a low credit score can flag you as a credit risk and may make it difficult to get credit. Is used by lenders to determine if you are a good candidate to extend credit to.
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